Feb 7, 2022 - Economy

A 410-pound gold cube worth $10.8M sat in Central Park

Gold cube

Photo: Cindy Ord/Getty Images

An artist promoting a digital coin placed a gold cube in Central Park last Wednesday.

Metaphor alert: Like so many bright, shiny things in this life, the cube is hollow inside.

  • If you're familiar with King Midas, then you know gold is good for making statements about economic excess.
  • This is the latest entry into the cube discourse, replacing last year's tiny tungsten cubes — a hit with folks who have too much money.

Details: The cube is 410 pounds, and worth about $10.8 million at current gold prices ($1,807.80 per troy ounce). The inevitable NFT will be launched later this month.

  • The artist, Niclas Castello, is also selling a Castello Coin that is trading at 0.39 euros.

State of play: The cube attended a dinner on Wall Street last week, according to Artnet.

  • But its whereabouts are now unknown; a message sent via the Coin website wasn't answered.

What they’re saying: “It’s a very bad piece of conceptual art,” Axios chief financial correspondent and noted art guy Felix Salmon said on Slate Money.

Flashback: Maurizio Cattelan's golden toilet, dubbed "America," debuted at the Guggenheim Museum (near Central Park) in 2016. Though it cost millions to make, Cattelan (also known for this $150,000 banana), said it was a great leveler.

  • “Whatever you eat, a two-hundred-dollar lunch or a two-dollar hot dog, the results are the same, toilet-wise," he said.
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